AMA Bank

Teacher's Loan

Teacher’s Loan

Product Description:

The most advantageous loan for every Teaching and Non-Teaching personnel.

Will surely suits your needs;

  • Educational or Tuition Fees expenses.
  • Home improvement or Purchase of Brand New Home.
  • Medical and emergency expenses.
  • Pay-off credit card balances or other loans with high interest rates.
  • Car repair and maintenance.
  • Purchase of Appliances and Furniture.
  • Vacation or travel expenses.

Achieve your life’s necessities, big or small with AMABank Teacher’s Loan:

  • Higher net proceeds
  • Lowest interest rate as low as 3.5%
  • Flexible terms of payment
  • No hidden charges
  • Fast Loan Approval and Disbursement
    Personalized service
  • As low as 6% Service Charge
  • Less Requirements
  • Loan balance transfer/loan buyout accepted

Requirements will be simple as this;

For new loan applicants:

  • Fully Accomplished Teacher’s Loan application form.
  • 3 Months Original Consecutive Payslips.
  • 2 Original Gov’t IDs. (Preferably Deped ID and PRC ID with 3 specimen signature)
  •  Permanent Appointment or Service Record (Updated).
  • Co-Maker’s photocopy of Gov’t ID (Preferably Deped ID and PRC ID with 3 specimen signature) and signature on the  Salary Loan application form.

For renewal loan applications:

  • Fully Accomplished Teacher’s Loan application form.
  • 3 Months Original Consecutive Payslips
  • 2 Original Gov’t IDs and photocopies (preferably DepEd School ID and PRC ID with 3 specimen signature)

How much is the loanable amount and how long is the term for repayment?

Loan amount:

  • Minimum: P10, 000.00
  • Maximum: P1,000, 000.00
  • The “capacity-to-pay” shall be based on the statutory requirement of ensuring a monthly take-home pay of 5,000.00 per teacher/personnel.

Loan Term

Principal and interest are payable in eas term of 12 months to 36 months.

What are the benefits to Teacher-Borrower?

Lower interest rates.
Convenient Payment.
No collateral requirement.

How much is the Interest Rates?

  • As low as 3.5% per year for 12 to 36 months term

Are there other Fees and Charges? NONE, except the fees and charges mandated by law like service charge.
(see below sample table computation)

LOANS AMOUNT100,000.00100,000.00100,000.00100,000.00
less (Service Charge):6%6,000.006,000.006,000.006,000.00
Net Proceeds94.000.0094.000.0094.000.0094.000.00
Monthly Amortization3,069.444,458.335,847.228,625.00
Total Interest10,499.846,999.925,249.963,500.00
Annual Interest3.50%3.50%3.50%3.50%

Who are the qualified Eligible Borrowers?

  • Permanent or regular employee with acceptable employment record.
    Tenure of at least one (1) year.
  • Must not be more than 65 years old or the Dep-Ed’s retirement age policy upon loan maturity, whichever comes first.